A recent survey conducted by McKinsey on May 30 revealed that 72% of organizations have adopted AI in at least one area as of March 2024. This marks a significant increase from previous years, with only 55% of organizations adopting AI in 2023.
Furthermore, approximately 50% of respondents stated that their organizations have implemented AI in two or more business functions, showing a growing trend towards AI adoption across various sectors.
The survey also found that the use of generative AI has nearly doubled, with 65% of organizations reporting its use in 2024 compared to 33% in 2023. McKinsey noted that this trend indicates a significant shift towards greater AI utilization in the business landscape.
Interestingly, the report highlighted that respondents are increasingly using AI both inside and outside of work, with senior leadership seeing the most growth in this category. Additionally, the Asia-Pacific and Greater China regions showed the most significant growth in AI usage.
In terms of benefits, AI adoption was most common in marketing and sales, where 34% of respondents utilized AI, followed by product and service development at 23%. Investments in generative AI were almost as common as those in analytical AI, with firms reporting cost and revenue benefits in various areas such as supply chain management and service operations.
Coinciding with the survey results, Nvidia recently announced a new generation of AI chips called Rubin, following its previous generation named Blackwell. Nvidia, a major player in the AI chip market, is estimated to hold between 70% to 95% market share. AMD, Nvidia’s competitor, also unveiled its new line of AI chips in early May.
Overall, the report underscores the significant uptick in AI adoption across industries and regions, indicating a promising outlook for the future of AI integration in business operations.
